House 1 purchased, what are the next steps for house 2?

[Jared Ferraro]

I partnered with someone and we just closed on our first property. It’s a 2-family house and we put 10% down. Most of our personal cash is now tied up with this property. What are the financial strategies to get that 2nd property?

[Jaysen Medhurst]

@Jared Ferraro, first you may want to consider utilizing more of a BRRRR strategy so that you can get your money out of future deals and keep it in play.

As for going forward now, you have a few potential options to consider:

1. HELOC on personal properties
2. Borrow against retirement accounts
3. Purchase properties through retirement accounts
4. Find an equity partner(s)